As Bitcoin (BTC) approaches its March peak, a crypto analyst known for his accurate predictions is optimistic that the gradual rise against resistance will continue…
Bitcoin nears March peak
Data from TradingView, It shows that the price of Bitcoin has reached $ 45 thousand by consolidating the latest developments. The leading crypto is soon to break the monthly high of $45,330.
Levels to watch in March
Contrary to past attempts to stop sideways price movements, DecenTrader co-founder Filbfilb is optimistic that this gradual decline against resistance will continue. . You can find the analyst’s accurate Bitcoin price predictions here. In his current market report on Friday, Filbfilb had this to say about the recent market momentum:
After what seemed like an endless sideways movement, Bitcoin has been on the rise for the past few weeks and most of the market continues to deny this short-term rise. On the other hand, the whales seem to have different plans as we’ve seen a stable fixed bid for Bitcoin since this massive wall of demand formed around $37,000 on Bitfinex.
In a consolidation phase, Bitfinex whales net by placing buy support at $37,000 It gave a signal and according to Filbfilb there were possibilities for a trip to the resistance wall at $46,000. The analyst details why this is important:
Because Bitcoin whales have been using Bitfinex for years to manipulate the price of BTC through these buy/sell barriers. That’s why, when price and sentiment are at their peak, it’s always worth checking out Bitfinex’s order books to watch as these massive hurdles arise. It is also worth noting that while the next important resistance can be removed, it is currently around $45,500-46,000.
According to the report, if the annual opening no longer serves as a psychological ceiling for Bitcoin (BTC), the 200-day moving average will be $47,900.
$46,000 might be a hit
Crypto Ed, whose analysis we shared as Kriptokoin.com, said that $46,000 might not be a winning bet, based on the strength of breaking lower resistance levels:
What often happens when there is such obvious opposition? BTC explodes on fire on a short squeeze. Those who wait for the $ 46 thousand level to be broken are likely to fall behind.
“The temptation of the third time,” said the analyst, pointing to the graph above.
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